Maruti Suzuki, Hyundai and Tata Motors reported a decline in wholesales in September as the companies curtailed dispatches to dealers to reduce inventory build-up amid a decline in demand.
Maruti Suzuki India reported a 4% dip in total domestic passenger vehicle wholesales last month to 1,44,962 units compared to 1,50,812 units in the year-ago month.
The auto major said sales of mini segment cars, comprising Alto and S-Presso, grew marginally to 10,363 units against 10,351 units in September 2023.
Sales of compact cars, including Baleno, Celerio, Dzire, Ignis, Swift and WagonR, however, declined to 60,480 units compared to 68,551 units in the year-ago month.
Utility vehicles, consisting of Brezza, Ertiga, S-Cross and XL6, sales grew 4% to 61,549 units last month from 59,272 units earlier.
Maruti Suzuki India (MSI) Senior Executive Officer (Marketing & Sales) Partho Banerjee, in a virtual press conference, said the company has been reducing the dispatches to re-calibrate the inventory at the dealer level to match with the market demand.
He noted that the industry is looking at single-digit growth this year, following the high base of the last year and lack of pent-up demand.
“As for us, we are witnessing good traction in the number of bookings…we are going to see some growth in the festive season,” he said.
Mr. Banerjee said the company has posted record wholesale of 10.63 lakh units in the first half of the fiscal (April-September period).
“In the domestic market, we have dispatched 8,61,045, export sales were 1,48,276, and sales to the other OEM was 54,097,” he added.
In the first half, the company has sold 2,94,207 CNG vehicles, which contributes to 34.1% of the auto major’s overall sales. Every third car sold from the Maruti portfolio is CNG now, he said.
“We are on our target to achieve 6 lakh CNG vehicle sales in this fiscal year,” Mr. Banerjee said.
Hyundai Motor India said its domestic dispatch to dealers saw a 6% dip to 51,101 units last month from 54,241 units in the year-ago period.
Tata Motors’ total passenger vehicle, including electric vehicles, sales in the domestic market declined 8% to 41,063 units last month against 44,809 units in September 2023.
“The PV industry in Q2 FY25 saw more than 5 per cent decline in retails (Vahan registrations) compared to Q2 FY24 driven by slow consumer demand and seasonal factors. In contrast, industry offtake was significantly higher than registrations in anticipation of a strong start to the festive season, resulting in a continued build-up of channel stock,” Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd Managing Director Shailesh Chandra said.
Mahindra & Mahindra said its SUV wholesales in the domestic market increased 24% to 51,062 units in September compared to the same month of last year.
Toyota Kirloskar Motor reported a 14% year-on-year increase in wholesales to 26,847 units in September.
The automaker dispatched 23,590 units to its dealers in September last year.
JSW MG Motor India reported an 8 per cent year-on-year decline in retail sales to 4,588 units in September.
Kia India sales rose 17 per cent year-on-year to 23,523 units in September.
The automaker had dispatched 20,022 units to dealers in September 2023.
In the two-wheeler segment, Bajaj Auto said its domestic sales increased 23% to 3,11,887 vehicles from 2,53,193 units sold in September last year.
Honda Motorcycle & Scooter India said its wholesales in the domestic market rose to 5,36,391 units from 4,91,802 units in September 2023.
Published – October 02, 2024 02:12 am IST